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Swedish Orphan Biovitrum
Drug Names(s): BVT.3498
Description: BVT.3498 is a small molecule 11ß-HSD1 antagonist. The enzyme 11ß-HSD1 converts inactive cortisone into the active glucocorticoid cortisol, which is an important regulator of the body’s metabolism. It's highest levels are in the liver and fat tissue. Animal studies have shown that inhibition of the enzyme leads to lower levels of blood cholesterol, fatty acids and lipids, improved insulin sensitivity and reduced formation of glucose in the liver.
Deal Structure: On September 8, 2003, Amgen and Biovitrum partnered to develop BVT.3498 and related compounds. Amgen will fund development, and will market the drug in North and South America, the European Union, Australia, New Zealand, and other territories. Biovitrum will co-market the drug in Nordic countries.
In February 2006, Amgen and Biovitrum expanded their previous agreement. Under the expanded agreement, Amgen receives exclusive worldwide rights to commercialize all developed products, while Biovitrum retains co-promotion rights in the Nordic region for all products developed.
In November 2009, Biovitrum and the shareholders of Swedish Orphan reached an agreement under which Biovitrum will acquire 100 per cent of the shares and warrants in Swedish Orphan. The new group will be called Swedish Orphan Biovitrum.
Partners: Amgen, Inc.
Scrip DiObex Inc.
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